Innospec Inc. (NASDAQ:IOSP) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 10:00 am ET


Innospec Inc. (NASDAQ:IOSP) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, and thank you for standing by. Welcome to the Innospec's Third Quarter 2019 Earnings Release and Conference Call. (Operator Instructions) Also, I must advise that the call is being recorded today, Wednesday, the 6th of November, 2019.

And without any further delay, I would now like to hand over the call to your first speaker today, David Jones. Thank you. Please go ahead.

David Jones

Thank you. Good day, everyone. My name is David Jones, I'm Vice President, General Counsel and Chief Compliance Officer at Innospec. Thank you for joining our third quarter 2019 financial results conference call. Today's call is being recorded.

As you know, late yesterday we reported our financial results for the quarter ended September 30, 2019. The press release is posted on the company's website at The slide presentation on the results is now available on our website and both an audio webcast and a slide presentation will be archived on the website for six months.

Before we start, I would like to remind everyone that certain comments made during this call might be characterized as forward-looking statements under the Private Securities Litigation Reform Act of 1995. Generally speaking, any comments regarding management's beliefs, expectations, targets or other predictions of the future are forward-looking statements.

These statements involve a number of risks and uncertainties that could cause actual results to differ materially from the anticipated results implied by those forward-looking statements. These risks and uncertainties are detailed in Innospec's most recent 10-K report and the 10-Q reports for the quarter ended March 31, 2019 and June 30, 2019 as well as other filings we have with the SEC. We refer you to the SEC's website or our site for these and other documents.

On Slide 3, we go over the use of non-GAAP financial measures. In our discussion today we've also included non-GAAP financial measures. A reconciliation to the most directly comparable GAAP financial measures is contained in our earnings release, a copy of which is available on the Innospec website.

For today's agenda, with us today from Innospec are Patrick Williams, President and Chief Executive Officer; and Ian Cleminson, Executive Vice President and Chief Financial Officer.

And, with that, I turn it over to you, Patrick.

Patrick Williams

Thank you, David, and welcome, everyone, to Innospec's Third Quarter 2019 Conference Call.

With many segments in the chemical industry reporting difficult trading conditions, I am very pleased to be reporting another good set of results for Innospec. Despite some of these headwinds, we continue to find that our combination of good technology aligned with a focus on customer service is supporting our profitable growth. However, we remain cautious about future prospects as the market dynamics remain uncertain.

During turbulent times like this, our strategy of operating a balanced portfolio of businesses allows us to continue to grow up by taking advantage of positive trends in some sectors while dealing with these challenging market conditions. We have delivered excellent sales growth in two of our business units, which